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A Modern Jubilee to Prevent the Enslavement of Humanity
We are witnessing the foreclosure of the entire world. Ancient people knew that when debt is allowed to grow without restraint, creditors will dominate society at the expense of those who engage in productive activities.
When examining the vast indebtedness of nations and of people one should ask three things. Who has that much money to lend? How did they get it? Why do they continue to lend, even though there is no possibility that these debts will ever be paid? In his book U.S. Money Vs. Corporation Currency, in the chapter The Slavery of Debt Alfred Owen Crozier wrote ”The interest must be paid, but the principal falling due usually can be extended, refunded, if the owners of the bonds consent, and on terms and conditions which they dictate”. He also wrote “At the present rate of progress it will be only a matter of time, and a relatively short time, when one man or one family will own and rule the entire earth and all of the people on it”.
His comments were not based on prophetic visions of the future but on an understanding of the nature and history of debt. He could never have imagined, in any detail, the conditions in our world at this time. Nor could he have imagined the devices that are being invented to enable this foreclosure.
This ultimate foreclosure cannot be announced openly. If it were, people would understand what is happening. They would never cooperate. Furthermore the debts of individuals are not distributed evenly within society. Significant numbers of people have no personal debt, but they are still inescapably held responsible for the unpayable debts of governments.
Instead of “calling the note” openly, crises are being engineered, so that the creditors, and their agents, can step in appearing to be rescuers, while not revealing themselves as repossessors.
We are being conditioned to expect a “New Normal”. Even though the “Old Normal”, which we are accustomed to, cannot continue, those who have engineered the instabilities that make collapse imminent, should never be rewarded with the privilege of designing and administering the “New Normal”. Human society is being threatened with enslavement by this indirect and deceitful foreclosure. We can and should take matters into our own hands. When we make the details of this restructuring a common topic of everyday conversation, we are taking the necessary first step toward gaining control of our future. We should speak as if we are assuming some control over the form that our future takes. Because indebtedness has been known since ancient times as a cause that facilitates the formation of a dominant predatory class, we should include this idea in our discussions. We should expect more crises, and condition those that we talk to, to expect them also. Even before such surprises occur, all people must preemptively lay blame squarely where it belongs, on the heads of these known and persistent criminals.
A modern Shmita, or a Jubilee, does not enjoy the advantage of being uncontroversial. It is unlike the ancient ones, which were expected and could be planned for. After the obviously fraudulent, modern systems of money creation are fully exposed, and they are understood by the masses, a debt cancellation plan can be justified. It will only require minimal accommodation to be given to those who feel threatened by the disruption. It must respect the fact that some debts represent real human effort. It should however, be indiscriminate, in that it will not be a piecemeal, cause specific debt forgiveness like some of those currently being proposed. Proposals to forgive student loans, medical debt, and the like appeal to our sympathy, but they leave corrupt institutions untouched. These institutions could remain as dividers of spoil, and still be able to appoint favors. Many debts will disappear anyway. Modern money is introduced into circulation by issuing debt. It represents nothing of value. Those debts, and any interest owed on those debts can be canceled, without depriving anyone of honest value. Debts that represent real human effort, or property that was sold with the honest expectation of using the proceeds for future expenses, or to build some new enterprise, should however remain.
A society actively engaged in reforming its monetary system will find ways to relieve those few who are still hopelessly in debt. This type of charity will become an obvious good choice, perhaps almost effortless, after the spirit of reform becomes fashionable. It will be easily afforded, after the removal of the unseen burden of debt, begins to manifest benefits.
Investing in wasteful or destructive follies will become rare when the money used represents real effort, instead of it being the product of a conjuring trick on a ledger. Common purses will be doubly guarded when trustees can no longer feign generosity, by resorting to a limitless supply of debt based money.
The roles of governments will quickly diminish after they have been deprived of this limitless funding source. Currently authority is concentrated at the most remote seats of government. These national and international bodies answer to entities that are closely tied to the enabling banks which issue currency. Authority will, as it must, shift away from national and international bodies and move to those that are closest to home. Any corporate bodies that perform governmental functions are open to scrutiny.
The people’s liberties and a standard of thoughtful, conscientious governance will be secure only after the greatest authority rests within the most local of all governments. That government is within the individual. A culture of introspection must form, with each individual controlling his own thoughts and behaviors. Rules and standards that do not universally conform to human consciences will not stand, when diligent, thoughtful people do not comply.
National governments will still have at least two important roles during this transition. These roles are facilitating a continuation of vital commerce, while these debts to no one are being canceled, and that of the replacement of fiat money by something tangible.
With governments as the acceptor of last resort, for circulating paper, and with the balances shown on the ledgers of savings accounts made secure, vital commerce can continue. People will be assured that the money they have earned will be accepted somewhere until it is all recalled and replaced. While recalling fiat money, governments must facilitate its replacement with something substantial. They can do this by liquidating assets, just as anyone in default must do. The vast possessions of governments in real estate, machinery, and reserve stockpiles can be sold to acquire the coins needed to replace the remaining fiat money still in circulation. Some things must not be sold however. Secrets can no longer be kept. They must be openly published or trust will never be built. Weapons that could supply some military with the ability to overwhelm a human population, and force submission, will not be sold intact. They will be dismantled then sold as scrap.
Maintaining a viable productive economy to serve human needs during this time of transition is a matter of primary importance, but it is not the only topic that will need careful attention. It is now time to begin discussing among ourselves, what form a “New Normal “will take. It should be one chosen consciously, by informed, thoughtful people. The only other option is to wait, then accept, whatever a small number of self-appointed oligarchs choose to impose.